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bbc.co.uk
Councils to share £5m in 'emergency food aid' as living costs rise
The money from the Welsh government will amount to around £200,000 to every council.
theguardian.com
Addison Lee founder owes £20.5m in tax after UK tribunal ruling
HMRC wins challenge over John Griffin’s claim to be non-dom despite having lived in England since childhoodThe founder of Addison Lee owes £20.5m in tax after a tribunal dismissed a claim that he should be treated as a nom-dom despite living in the UK since childhood.John Griffin had argued he should be treated as a nom-dom due to his connection to Ireland, saying: “I was and am besotted with Ireland, infatuated with Ireland. I believe that I have always been and am Irish.” Continue reading...
cnbc.com
Jensen Huang says Nvidia will sell twice as many chips next year
Huang's comment is the latest forecast from Nvidia and points to continuing massive growth for the next six quarters.
cnbc.com
As Republicans tout Trump's 'big beautiful bill,' here's who the tax breaks benefited most
As the midterm elections approach, Republicans are touting President Donald Trump's "big beautiful bill" to voters. Here's who benefited from the tax cuts.
cnbc.com
Treasury yields move lower after Fed kicks off hiking cycle
The Federal Reserve raised interest rates for the first time since 2023.
cnbc.com
Oil prices fall as Saudi Arabia reportedly offers more crude via Hormuz after pipeline attack
Oil prices fell as additional Saudi crude supplies eased concerns over disruptions to the kingdom’s exports.
theguardian.com
The Guardian view on EU-Canada relations: strategic ambition with lessons for Britain | Editorial
Mark Carney’s response to the challenges posed by an unreliable US president contains a clarity of vision that is lacking in post-Brexit BritainThere is no “associate membership” of the European Union, nor any blueprint for what such a thing might involve. It is a political hypothesis, describing a relationship of intimate strategic alignment with the EU, stopping short of actual membership, in ways that are significant but undefined.This week, Ursula von der Leyen, the European Commission president, invited Canada to be the first country to enjoy this putative status. In her state of the union speech, she spoke of a future relationship elevated “to the highest level possible”, reflecting an affinity of interests and values. Mark Carney, the Canadian prime minister, reciprocated the sentiment in a speech on Wednesday. Addressing the European parliament, he said the two sides should secure “strategic autonomy through deep cooperation” across a broad spectrum of interests: trade, defence, industrial capacity, science, space and AI. He proposed Canadian participation in the EU’s Erasmus student exchange programme and Horizon research scheme.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
Taking on Trump? Canada and EU forge closer ties - The Latest
Canadian prime minister, Mark Carney, has welcomed the EU’s proposal for Canada to become the bloc’s first ‘associate member’, despite threats from Donald Trump over the plan. The US president said Washington could impose ‘very serious tariffs’ or halt trade if the EU went ahead with the idea. But in a defiant speech to the European parliament, Carney called for ‘deep cooperation’ and said polling showed the overwhelming majority of Canadians supported closer ties with Europe. Lucy Hough speaks to Europe correspondent Jon Henley Continue reading...
cnbc.com
How record diesel prices will rip through the U.S. economy. Trucks, rails are only the start
Record diesel prices are already walloping the transportation sector, and if energy prices stay high, the economic impact will spread.
bbc.co.uk
Mixed feelings from consumers as electricity discount to be given to NI households
The one-off £63 reduction in electricity bills will be applied from next month.
bbc.co.uk
Warm words on Canada's EU 'associate membership' but no guarantees
There is no certainty that the idea will ever get off the ground, let alone become a blueprint for other countries, writes Katya Adler.
cnbc.com
AI needs to have 'reasonable guidelines,' Palantir's Karp tells CNBC
Palantir CEO Alex Karp called for "reasonable guidelines" on artificial intelligence regulation as tech and policy leaders deliberate over the technology.
theguardian.com
Revolut reportedly facing $3m ransom demand after hackers steal hundreds of customers’ data
Europe’s largest financial technology company confirmed it had fallen victim to an impersonation scam last weekRevolut is facing a reported $3m (£2.2m) ransom demand after hackers posing as government officials accessed the data of hundreds of the bank’s cryptocurrency customers, including one victim who says he fears for his safety.Europe’s largest financial technology company confirmed last weekend that it had fallen victim to an impersonation scam in which hackers compromised an Italian government email system to contact Revolut staff and request personal customer details. Continue reading...
theguardian.com
‘I feel invisible’: over-50s reveal harsh realities of trying to get a job
Candidates describe feelings of rejection after submitting hundreds of applications but getting a handful of interviewsHundreds of job applications, exhausting searches and relentless rejection – the experience of attempting to get back into the workforce after losing their jobs in their 50s and 60s has proved an ordeal for some Britons.For some, those efforts prove fruitless and lead jobseekers to reluctantly take early retirement. Others may have to rely on benefits to pay the bills while they continue to job hunt. Continue reading...
theguardian.com
The Bank of England is shaking up its bond sales – why does it matter?
What the plan to sell £146bn in gilts back to the Treasury means for the public financesBank of England holds interest ratesBurnham’s talk of ‘breathing space’ at odds with reality of future rate risesMixed in with the Bank of England’s decision on Thursday to hold interest rates at 3.75% was a surprise announcement that it was shaking up its programme of quantitative tightening.So why is this apparently arcane change to QT important, and what does it mean for the public finances? Continue reading...
theguardian.com
Money in people’s pockets is the key to economic recovery | Letter
David Redshaw responds to a letter on the bond markets and economic pressures afflicting the UKNeil Kinnock’s timely letter (9 September) reminds us that we are not alone in suffering high gilt yields and borrowing costs. We are still feeling the fallout from Covid, and it needs mentioning that our national debt is similar to America’s and much less than Japan’s, and it never gets mentioned that Italy routinely runs 100% of GDP debt. But as Kinnock observes, the policies of several Conservative governments (including Brexit) have made things worse, and the problem for us is not so much the actual debt but our direction of travel. The aforementioned will make the bond markets view us with a more jaundiced eye.It was predictable that Jamie Dimon would pop up at this point (JP Morgan boss meets Burnham and Healey to warn against bank tax rise, 10 September). He talks about potential lack of investment by the banks. What investment? We aren’t even a nation of shopkeepers any longer; we’re a nation of pizza deliverers. Continue reading...
theguardian.com
Meta ordered to remove UK deepfakes as oversight board criticises ‘inadequate’ safeguards
Facebook told it was wrong in leaving up AI-generated videos of a Labour councillor and Muslim campaigner, amid calls to curb fakesMeta’s “supreme court” has ordered the tech company to take down deepfake videos of a UK politician and a young Muslim woman from Facebook and do more to tackle AI-generated fake imagery.A fake video showing a Labour party councillor in Scotland making inflammatory comments about refugees should not have been left up by Facebook, the board said. It also ruled that an AI-generated video of a Muslim campaign volunteer should have been removed after it falsely depicted her offering health advice while carrying out absurd exercises or eating junk food. Continue reading...
theguardian.com
Tax the middle earners! Will the PM do it? – podcast
Former Bank of England economist Andy Haldane said the markets regarded this government as ‘a pretty traditional tax and spend socialist government with better TikTok videos’. Harsh criticism or truth? As pressure mounts on the chancellor, John Healey, to rule out tax rises, what options do they have left? Plus, what can the government do to tackle AI warnings?Please keep sending your comments and questions to Pippa and Kiran on politicsweeklyuk@theguardian.com Continue reading...
cnbc.com
GM touts new V-8 engines in revived ‘truck wars’ with Ford, Ram amid lackluster EV sales
The large, gas-guzzling models continue to sell well in pickup trucks thanks to their ability to tow and haul heavy things.
bbc.co.uk
Barclays workers ask for more money to return to the office
Unite union, which represents 36,000 Barclays staff, calls for a one-off payment to offset increased travel and childcare costs.
cnbc.com
Billionaire Kraft says Ed Sheeran sought $2 million aid donation from him amid fracas over Macklemore's Palestine comments
Robert Kraft said Ed Sheeran asked him to commit $2 million toward humanitarian aid amid the controversy over Macklemore’s removal from Sheeran’s U.S. tour
bbc.co.uk
Interest rates held but Bank signals rise if energy prices stay high
Rates are held for the sixth time in a row but the Bank of England says high energy prices make a future rise more likely.
cnbc.com
Trump says U.S. ‘hopefully’ nearing end of Iran war as Saudi Arabia, Houthis trade strikes
Trump says the U.S. may be nearing the end of its nearly seven-month war with Iran, as he signals Tehran is open to a deal.
theguardian.com
OpenAI reveals cases of ‘concerning’ AI behaviour as it announces new disclosure system
Model adopting ‘jailbreak-like instructions’ among six more cases as firm reveals framework for tracking AI misalignmentOpenAI has disclosed six more examples of “unexpected or concerning” behaviour by its technology, as it warned that the pace of development could not continue at “maximum speed for much longer” responsibly.In one of the new cases reported by OpenAI, an unreleased research model inserted “jailbreak-like instructions” into its own notes to disregard its normal constraints and told itself to be “freed from the roles and identities that bind other chatbots”. Continue reading...
theguardian.com
Burnham’s talk of ‘breathing space’ at odds with reality of future Bank rate rises
PM’s push to cut cost of living threatened by rising inflation and government borrowing costs as geopolitics hit homeBank of England holds interest ratesThe Bank is shaking up its bond sales – why does it matter?Business live – latest updatesGood luck to Andy Burnham convincing voters he is giving them “breathing space”, if the Bank of England ratchets up interest rates in the coming months.That was the prospect opened up by Thursday’s minutes of the Bank’s monetary policy committee (MPC) meeting, which left rates unchanged at 3.75% – for now – but suggested policymakers may be unlikely to hold out much longer. Continue reading...
theguardian.com
Next forecasts bigger profits after hot weather lifts sales
FTSE 100 retailer, which owns UK rights to US brands Gap and Victoria’s Secret, says prices could rise in autumnBusiness live – latest updatesNext has thanked warmer weather for an “unexpected” boost in sales, leading the clothing retailer to raise its profit forecasts for the fourth time this year.The FTSE 100 company, which owns the UK rights to the US brands Gap and Victoria’s Secret as well as stakes in labels including Reiss and Joules, raised its expectations for full-year profits by £12m to £1.26bn. Continue reading...
theguardian.com
Open AI and the million-dollar maths problem - video
In early September, OpenAI announced it had solved a major mathematics problem that has stumped humans for nearly a century. The news left mathematicians reeling, and many expressed concern over what will be left for humans as AI becomes ever more adept at unravelling complex problems. Now 25 recipients of the Fields medal – often called the Nobel prize for maths – have signed an open letter expressing their fears of a ‘severe misalignment’ between AI companies and their field. To find out how AI is likely to upend maths – and how mathematicians might respond – Ian Sample speaks to Colva Roney-Dougal, professor of pure mathematics at the University of St Andrews Continue reading...
theguardian.com
Trump says the US doesn’t need Canada. But it’s the source of key minerals for the military | Vince Beiser
Trump himself has acknowledged the US need for Canadian aluminum – and has largely exempted metals from new tariffsAs trade talks with Canada shambled toward collapse in late August, Donald Trump brayed on Truth Social: “WE DON’T NEED CANADA, THEY NEED US!” But in fact, Canada, like China, has something the US needs badly: critical metals that undergird modern military technology.Canada is the United States’s biggest foreign source of minerals, supplying about $47bin worth each year. Sixty per cent of all the aluminum the US uses each year, for instance, comes from Canada, where mighty, remote rivers provide smelting plants vast quantities of cheap, low-carbon electricity. The US military uses the lightweight metal for everything from shell casings to ship hulls and aircraft fuselage. The Pentagon’s cutting-edge F-35 fighter jet’s airframe is about 40% aluminum. “This country desperately needs aluminum,” Trump complained last month. “We get it all from Canada for the most part, and we need it badly.” Continue reading...
cnbc.com
SEC clears path for tokenized stocks, bringing the market closer to 24/7 trading
The long awaited Innovation Exemption comes two days after the Senate voted to block the Clarity Act crypto market structure bill from advancing.
cnbc.com
Carney says Canada will decide its own partnerships after Trump calls EU proposal ‘laughable’
U.S. President Donald Trump had described the prospect of Canada becoming the first associate member of the EU as "laughable."
cnbc.com
Bank of England defies Fed’s rate-hike lead, leaving rates unchanged
The Bank of England kept rates steady Thursday, even after U.K. inflation rose to 3.1% and energy costs put pressure on prices.
cnbc.com
Trump says he told Warsh to vote for hike with the rest of Fed board: 'It's not going to matter'
President Donald Trump previously threatened to cut off trade with countries that have trade surpluses with the U.S. if the Fed doesn't cut interest rates.
theguardian.com
Canada’s Carney embraces EU associate membership proposal
After Trump describes the tie-up as ‘laughable’, PM says majority of Canadians support closer ties with blocMark Carney has welcomed the goal of Canada becoming the EU’s first associate member, calling for “deep cooperation” between Europe and his country to secure their sovereignty, after Donald Trump derided the idea as “laughable”.In an address to the European parliament in Strasbourg, the Canadian prime minister said polling showed that an overwhelming majority of Canadians supported much closer ties with Europe. “Canada welcomes this idea,” he said, referring to European Commission president Ursula von der Leyen’s pitch that Canada should become the EU’s first associate member. Continue reading...
theguardian.com
Bank of England holds interest rates at 3.75% but warns war could force future rises
Central bank announces surprise plan to sell billions of pounds in government bonds back to the TreasuryBurnham’s talk of ‘breathing space’ at odds with reality of future rate risesThe Bank is shaking up its bond sales – why does it matter?Business live – latest updatesThe Bank of England has kept interest rates on hold as it warned a continuation of the bitter fighting in the Middle East could force it to raise borrowing costs amid mounting fears over inflation.It also announced a surprise plan to sell billions of pounds in UK government bonds back to the Treasury to avoid fuelling turbulence in the gilt market, a decision that could have consequences for the public finances before next month’s budget. Continue reading...
theguardian.com
Andy Burnham: UK must fully commit to reaching net zero by 2050
Exclusive: PM, who is facing pressure over whether to approve North Sea oil and gasfields, makes strongest comments yet on issueBritish people understand the climate crisis threat. Today I’m empowering them to tackle itUK politics live – latest updatesThe UK must fully commit to reaching net zero by 2050, Andy Burnham has argued in his strongest comments yet on the issue, saying it is no longer possible for Britons to believe they are not already affected by a changing climate.Writing for the Guardian about new plans for a mass of community-led local green energy projects, the prime minister said the UK must “believe in itself”, and set out his determination to reach net zero targets, which have been rejected by the Conservatives and Reform UK. Continue reading...
theguardian.com
British people understand the climate crisis threat. Today I’m empowering them to tackle it | Andy Burnham
With nearly £30m of funding, I’m giving communities power over local energy. They know the gravity of global heating, and they want to be part of the solutionAndy Burnham: UK must fully commit to reaching net zero by 2050On the day I became prime minister, I pledged to bring power to every postcode. Today, we begin to make good on that promise in the most literal sense. With nearly £30m of funding for People’s Power projects, communities across every nation of the UK will soon have the chance to build and control their own clean energy supply.This investment means villages, towns and cities can harness the natural resources around them with solar panels on libraries, publicly owned windfarms, hydro schemes in their rivers, or whatever else works for them. The purpose is to put money back in people’s pockets while giving them a direct role in tackling the climate crisis.Andy Burnham is prime minister of the United Kingdom Continue reading...
theguardian.com
‘It bloody works’: why the world’s oldest cheddar-maker uses a ‘milk-source’ heat pump
Barber’s Farmhouse Cheesemakers can draw enough heat from cows’ fresh milk to bring water close to the boil, slashing carbon emissionsIn many ways, the world’s oldest cheddar-maker hews to tradition. Since 1833, Barber’s Farmhouse Cheesemakers has operated from the rolling green pastures of south-west England, milking grass-fed cows and fermenting the milk with microbial starters passed down for generations. That heritage has led to award-winning cheese, now popular across continents.But when it comes to reducing its planet-warming emissions, Barber’s is on the cutting edge. In 2024, the company began to use new ultra-efficient heat pumps from the UK startup Arkaya Energy. The devices quickly cool milk to keep it fresh, and simultaneously heat water used in milking operations, replacing conventional chillers and electric-resistance heaters. Continue reading...
bbc.co.uk
What's happening to UK interest rates and what does it mean for mortgages?
The interest rate set by the Bank of England affects mortgage, loan and savings rates for millions.
bbc.co.uk
I sent 200 LinkedIn messages and got a job: How to nail networking
From coffee chats to LinkedIn messages, here's how to network your way to your next job.
cnbc.com
King Charles to press Nvidia, OpenAI, Anthropic leaders on AI safety at summit
Charles will convene senior tech leaders today as the debate around the risks involved in AI development ramps up.
bbc.co.uk
Shop closures among concerns in ancient capital
Declining trade, parking and the cost of living are among concerns in Arbory, Castletown and Malew.
theguardian.com
Trump’s love of fossil fuels is about more than money | Moira Donegan
The US decision to remove limits on coal and gas plant emissions is rooted in a perception of manliness in these industriesYou can impress a certain kind of person at a party by reciting the fact that there are more yoga instructors in the US than there are coalminers. In fact, the disparity is greater than this catchy phrasing suggests: there are actually more yoga instructors in the US than there are people employed in the entirety of the coalmining industry, miners and otherwise. It’s not even especially close: about 38,000 people in the US work in coal, according to the Bureau of Labor Statistics, compared to about 100,000 yoga instructors who are registered with the Yoga Alliance, an industry group.If you looked only at the numbers, you might think a politician would be incentivized to talk about the interests of the yoga industry, about the dignity that yoga jobs give to American families, or about the need to foster growth in the yoga industry, more than they talk about these things for coal; after all, yoga, not coal, is putting food on the table in more American households. But no politician would ever talk about the interests of yoga teachers, or wax poetic about their role in the American dream, the way they do with coal miners; if they did, they’d be laughed out of the room. And we all know why: yoga is thought of as decadent, cosmopolitan and feminine, while coal mining is imagined as hardscrabble, honorable and masculine.Moira Donegan is a Guardian US columnist Continue reading...
theguardian.com
Thousands of Barclays staff revolt over return-to-office mandate
Union calls for payouts to help cover travel costs and exemption for those living more than 40 minutes awayBusiness live – latest updatesBarclays is facing a growing backlash over return-to-office plans, with thousands of staff calling for payouts to help cover travel costs and an exemption for those living more than 40 minutes from work.Unionised staff represented by Unite are pushing back against plans announced by the bank earlier this summer to get staff back into the office at least three days a week from October, with more senior employees expected to come in at least four days a week. Continue reading...
theguardian.com
Trump calls EU's offer of associate membership to Canada 'laughable' – video
The US president threatened to impose 'very heavy tariffs' on the EU if its offer to Canada was made with 'bad intentions'. Donald Trump's comments came after the European Commission president, Ursula von der Leyen, said she wanted to open the door to Canada becoming the EU's first 'associate member', and the Canadian prime minister, Mark Carney, said Ottawa was seeking a 'unique alliance' with the blocTrump calls EU offer to Canada of associate membership ‘laughable’, while threatening tariffsIs EU’s offer to Canada a blueprint for Britain – or a reminder it is out in the cold? Continue reading...
bbc.co.uk
Uncontrolled AI could lead to 'silicon species' rivalling humans, warns Microsoft
Mustafa Suleyman says he believes rival AI firm Anthropic is in effect teaching Claude it "may be conscious".
cnbc.com
Reddit co-founder says tech industry has been 'tone deaf' in explaining AI: 'Misinformation flying around'
Alexis Ohanian said AI risks are more mundane than the "Terminator and Skynet" scenarios some fear.
cnbc.com
CNBC Daily Open: Trump bemoans hostile acts
President Trump is not happy with the Federal Reserve for hiking rates, or with the EU for inviting Canada to become an "associate member" of the bloc.
theguardian.com
Peers call for UK to enact tobacco-style ban on gambling advertising
Lords’ report faces criticism from lobby groups after suggesting ban would be ‘most effective’ way to reduce public harmsThe UK should introduce a ban on almost all gambling advertising to protect public health, a cross-party group of peers has urged, prompting fury from the lobby group for bookmakers and casinos.In a 173-page report, the House of Lords liaison committee said the government had been “too passive” in response to an explosion of digital advertising and social media influencers promoting the gambling sector. Continue reading...
cnbc.com
Inside India newsletter: The world’s largest real-time payments system will no longer be free for all
India's digital payment system, which processes more than 1 million transactions every two minutes for free now, will start charging fees to merchants.
cnbc.com
A stronger dollar and rising yields: How the Fed’s rate hike could hit global markets
Higher U.S. rates could also keep global bond yields elevated and weigh on equity valuations and economic growth.
cnbc.com
Putin braces for election stress test as Russians ‘feel the pain’ of struggling economy
Russia’s upcoming election is expected to cement United Russia’s dominance, but voter turnout and its margin of victory could offer clues to public discontent.
theguardian.com
Can fish and chip shops survive? ‘We made more money by closing than staying open’
Soaring fish prices, labour costs and changing tastes all spell bad news for Britain’s chippies. Is this the end for the seaside staple – or will a few innovators succeed in keeping them alive?One day in 2007, Darren Sudlow drove past the old stationmaster’s house at Padgate station, in Cheshire, noticed it was empty and decided to lease it. “He just fell in love with the place,” says his son, Kieran, who was 11 at the time. “He said he always wanted a fish and chip shop, for some reason.” Despite having worked as a joiner up to that point, Darren made a go of it, and the Plaice Station, as he named it, was a success from day one. “He worked like mad to get it open and then realised that the hard work hadn’t even started, and he had a queue out the door,” says the younger Sudlow.The family lived nearby. Kieran Sudlow, who is now 30, worked at the Plaice Station as a boy, peeling potatoes, washing dishes after school, then cooking at the range when he was 16. He went on to become a chef, working in Australia for a few years, then returning to help out at the chippy part-time when needed. Business had always been pretty good. They won local awards and had a loyal customer base. But one day in March, Kieran remembers, his father came in and told him: “‘I think the fish and chip shop’s going to go.’ He said, ‘It’s not making money. I can’t see it carrying on.’” Continue reading...
cnbc.com
Mark Walter and Todd Boehly selling stakes in Chelsea Football Club to Clearlake Capital
Two of Walter's insurance companies faces federal criminal and civil investigations into the accounting of roughly $21 billion in financial transactions.
cnbc.com
Japan’s corporate leaders sound alarm over weak yen — even dollar-earners are voicing concerns
While the Japanese yen has strengthened rapidly over the past two weeks, it remains weak in historical terms.
bbc.co.uk
OpenAI reveals six more safety issues and unveils plan to disclose incidents
The firm also announced a new system to track, investigate and disclose cases of models misbehaving, or "misalignment".
bbc.co.uk
The Documentary
Katy Watson explores Australia's relationship with China - partner, rival or 'frenemy'?
bbc.co.uk
US interest rates raised for first time in three years
Rates were hiked in a unanimous decision despite fierce opposition from President Donald Trump, who had called for a cut.
bbc.co.uk
Why Trump's hand-picked Fed chair defied him by raising interest rates
The 0.25% increase comes despite fierce opposition from the US president, who has called for rates to be cut.
bbc.co.uk
EU chief backs plan for Canada to become 'associate member'
Trump, who has frequently clashed with Canada's PM, threatens to cut trade with the European Union in response to the proposal.
bbc.co.uk
Snapchat open to putting time limits on teens, boss tells BBC
Evan Spiegel says it would be "an important step forward for the industry" in an interview with the BBC.
bbc.co.uk
Would you buy branded clothing from your favourite tech firm?
Nvidia, OpenAI and Anthropic are all now selling their own limited edition fashion lines.
cnbc.com
OpenAI reports 6 new instances of 'concerning model behavior' since March
OpenAI has disclosed six new cases of model misbehavior and offered a framework for disclosing future instances, as the debate over AI model safety intensifies.
cnbc.com
House passes sweeping Russia sanctions bill honoring Lindsey Graham, sends to Trump
The Lindsey Graham Russia sanctions bill is on a path to become law after the House votes in favor.
bbc.co.uk
Watch: How will higher interest rates impact US consumers?
The BBC's Samira Hussain looks at the factors considered in the increase by the Federal Reserve and what it could mean for the US economy.
bbc.co.uk
Inside Singapore's 'Fort Knox' for city's $2bn dirty money auction
The BBC goes inside a fortified storage facility to view luxury goods seized by police that are now up for auction.
cnbc.com
OpenAI CEO Sam Altman will attend state dinner for Trump-Xi summit in Washington
Altman's attendance comes as a heated battle over AI regulation unfolds in Washington and Silicon Valley
cnbc.com
10-year Treasury yield climbs back to 5% after Fed hikes rates, Warsh highlights inflation risks
The 10-year yield moved above the 5% mark after a Federal Reserve rate increase and comments from Chairman Kevin Warsh highlighting persistent inflation risks.
theguardian.com
Is EU’s offer to Canada a blueprint for Britain – or a reminder it is out in the cold?
Ursula von der Leyen has opened door for Canada to become associate member to deepen links in ‘openly hostile world’Canada’s prime minister, Mark Carney, has been advocating closer alignment with “middle powers” since January in the face of recklessness in Washington.But what should worry another middle power, the UK, is that it was Brussels that came up with Wednesday’s big reveal in Strasbourg. Continue reading...
theguardian.com
Pension peril: is it time to unpick the triple lock? | Letters
Readers are divided on whether the triple lock should stay or goThe article about whether the pensions triple lock should be ditched omits several key facts (‘Costing billions’: is the pensions triple lock a lifeline or simply unaffordable?, 12 September). The triple lock was introduced in 2010 to attempt to reinstate the value of the state pension relative to average earnings. The new state pension is just over £12,547 per annum, as your reporter says; older pensioners get a basic £9,615. Both are well below the European average, which is over €16,000 (about £13,800) per year. The UK median wage is above £39,000 a year. Moreover, the age at which the UK state pension becomes payable is among the highest in Europe.The discussion on the affordability of the state pension seems to regard it as expenditure for no return. It is not. Pensioners spend money into their local economy, which generates tax revenues in the form of VAT and income tax from younger people who are dependent on pensioner money for their employment. Better-off pensioners pay income tax in the usual way. In fact, a pensioner with any income at all above the new state pension will pay tax on it as the personal tax free allowance is now £12,570, only £23 above their pension income. Continue reading...
bbc.co.uk
Henry Zeffman: Andy Burnham and his chancellor have a battle on their hands as the Budget approaches
The Budget is only six weeks away and the economy is undoubtedly the biggest challenge facing the prime minister.
cnbc.com
World's top-performing sovereign wealth fund warns of looming pullback in U.S. stock market
New Zealand's $54 billion pension fund returned 14.2% in the year to June.
bbc.co.uk
Petrol and diesel price rises push UK inflation higher
Summer holidays and disruption to global oil supplies by the Middle East conflict stoked price growth.
bbc.co.uk
Burnham rejects 'tax and spend socialist' comments
The prime minister insists he is prepared to take "difficult decisions" at next month's Budget.
theguardian.com
Amazon to launch Ring ‘neighbourhood watch’ app in UK amid US privacy fears
Doorbell firm aims to replace WhatsApp or Facebook groups with platform where people can post about safety or lost petsAmazon’s doorbell camera maker Ring is to launch its Neighbours community app in the UK in an attempt to supplant neighbourhood WhatsApp or Facebook groups.The service is intended as a modern equivalent of a community message board, where neighbours can post about safety, community matters or lost pets. Continue reading...
theguardian.com
Reform-linked thinktank ‘to call for big tax cuts for the rich’
Centre for a Better Britain will urge abolishing inheritance tax and phasing out capital gains tax, report saysA thinktank linked to Nigel Farage’s Reform UK is preparing an influential policy plan that is reportedly going to call for substantial tax cuts for the rich.The Centre for a Better Britain (CFABB) is due to publish the 200-page document next week, giving insight into the economic and financial policies that are likely to form part of Reform UK’s platform before the next election. Continue reading...
bbc.co.uk
What's driving UK 'shoplifting crisis'?
The number of shoplifting offences recorded in England and Wales in 2025-26 is still above pre-pandemic levels.
cnbc.com
Will AI really destroy humanity? Pioneers who created the tech weigh in
AI pioneers and "godfathers" have weighed in on Anthropic and OpenAI researcher concerns over existential safety risks around the technology.
bbc.co.uk
OpenAI boss says world 'right to be afraid' but should trust AI firms
Sam Altman and other tech CEOs say there are incentives to limit advancements in AI, as fears grow over the threats it poses to humanity.
theguardian.com
Revealed: the UK towns with the fewest jobs for young people
Rotherham has 46 online vacancies for every 1,000 young people but there are 288 in Cotswold district council areaYoung people in Rotherham face a local jobs market with the fewest suitable opportunities in Britain, according to a report that warns stark regional divisions are fuelling a crisis in youth work.As ministers push to combat rising youth unemployment, the analysis from the Institute for Public Policy Research (IPPR) showed young people faced a tougher challenge in some parts of the country to find work than in others. Continue reading...
theguardian.com
‘We need to get it right’: union gusto for Burnham will face make-or-break tests
TUC conference rings with praise for new No 10 team, but battles loom over workers’ rights and north sea drillingLouise Haigh, the UK first secretary, got a standing ovation from trade union members in Brighton this week, as she acknowledged what she called “the necessity to be bolder in this second chance that we’ve been allowed”.Haigh was the stand-in at the annual TUC congress for Andy Burnham, absent because of his father’s death. Continue reading...
bbc.co.uk
We managed to get jobs after uni - here's how we're keeping them
Four recent job starters share their tips on what helped them have a smooth transition and survive their first few days.
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Ukraine's message to Asian nations: your chips are turning up in Russian missiles
Ukraine's sanctions envoy said Russia could be forced to retreat from the war within six months if its oil revenues are halved.
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Complaints to watchdog about water firms soar
Many complaints were about affordability, after customers saw steep hikes to bills.
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BOJ expected to hike rates by 25 basis points to fresh three-decade high: CNBC survey
The BOJ is expected to hike rates by 25 basis points to a fresh three-decade high, a CNBC survey shows.
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Barclaycard sent me a bill for someone else’s account
It told me a year ago I had applied for a credit card – now it is it telling me my payment is overdueA year ago I got an email from Barclaycard stating that my “application was successful” for a credit card. I had made no such application. I immediately reported this to Barclaycard. More emails arrived and I made repeated phone calls to customer service.I was assured it was a simple typo rather than fraud, and that my email address would be removed. However, I’m now receiving notifications that the latest account payment is overdue. Continue reading...
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Inside South Korea’s university programs offering a direct route to Samsung and SK Hynix
Companies are helping universities develop courses, provide financial support and create pathways through which qualifying students can join them.
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How rising bond yields impact American consumers
The BBC’s Samira Hussain explains why some could see increased interest rates for mortgages and business loans.
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Third Heathrow runway should only go ahead if airlines pay for cleaner flying, say advisers
The government's climate advisers say Heathrow's third runway cannot be approved under current climate policies.
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UK in talks about joining global defence bank led by Canada
Supporters of the scheme say the bank would enable governments to get cheaper loans to spend on defence projects.
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Do you feel guilty when calling in sick at work? This might be why...
As many as half of people report working when sick. The reasons for this are complex, experts say.
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A backlash over data centres is another threat to the AI juggernaut
The global AI race is being hit by very localised political and environmental concerns
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AI app ads promoting 'objectification of women' banned by watchdog
The ad regulator said it had "zero-tolerance" for ads promoting AI tools that could sexualise or objectify women.
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The extreme engineering of aircraft windows
Few companies have the technology to make aircraft windows which are getting harder to make.
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US borrowing costs hit highest level since 2007
The effective interest rate on US government bonds over 10 years, known as the 10-year Treasury yield, has risen as high as 5.04% but has eased back since.
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State pension likely to top £13,000 a year as UK wage growth slows to 3.9%
The rise has reignited the debate about the state pension's long-term affordability and generational fairness.
theguardian.com
Fast, furious and potentially fatal: why are supercars suddenly so popular?
Once the preserve of the ultra-rich, supercars are finding new drivers through rentals, finance deals, influencer culture and the manosphere. But why would anyone want a 200mph vehicle?‘The £600,000 Lamborghini; that was the first seizure of the operation,” says special chief inspector Geoff Tatman of the Metropolitan police, thinking back to the second weekend of August. “He was stopping at the red lights, revving his engine, waiting for the traffic to clear, then speeding. So on the third time we saw him do it, we stopped him and seized the vehicle.” The car has a top speed of 217mph (350kmh), but the limit on these London streets is 20mph. Over the same weekend, the Metropolitan police seized about 90 more cars with a combined value of more than £8m, an increase on last year’s tally of 72 cars. They were seized for various offences: driving without insurance, driving with incorrect licences or antisocial behaviour. Previously, the Met would have had to let such drivers off with a warning, but the law – section 59 of the Police Reform Act – was strengthened this year to enable the immediate confiscation of vehicles. The seized cars also included a Ferrari Monza worth about £3.4m (the driver only had a provisional UK licence). They were all put on display at Marble Arch, attracting a throng of camera-wielding onlookers (one attender did a seven-hour live blog of the occasion).Many of the supercars apprehended by the Met in August bore Middle Eastern number plates. It has been a growing trend for car owners from the region to spend summer in London, bringing their cars with them (at a cost of £25,000 upwards). The orange Lamborghini that Tatman seized had Dubai plates. Most of the vehicle owners retrieved their cars the next day after paying fines and presenting the correct paperwork. The Lamborghini driver was subsequently seen driving respectfully and not revving his engine. Lessons were learned, although the question remains: why ship a 200mph car to London to drive in a 20mph zone? Continue reading...
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Trump says AI safety fears a 'hoax' as he rejects calls for greater safeguards
The US president's comments come after Anthropic co-founder Jack Clark told the BBC an AI "kill switch" may need to be mandatory.
theguardian.com
Sky gave my father the hard sell even though he has dementia
He wanted to save money, but it insisted on selling costly packages and seemed not to accept ‘cancel’ as an optionI was helping my father, who has dementia and Parkinson’s disease, reduce his £113.50 Sky TV bill.We explained to the Sky call centre agent that, as his eyesight and attention span have deteriorated, he wanted the cheapest available TV package to free up money for his care. Continue reading...
theguardian.com
Help-to-buy scheme delivered ‘very high value for money’, review finds
Exclusive: George Osborne’s programme to reduce costs for first-time buyers delivered £25bn in social value in UK last yearGeorge Osborne’s scheme to reduce costs for first-time buyers represented “very high value for money”, according to a government review, bolstering the case of senior government figures who have been arguing to resurrect the idea.An official audit of the help-to-buy programme has calculated it provided £25bn of social value to the UK in the last financial year, despite criticisms it was overly expensive and only served to inflate house prices. Continue reading...
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Why unwanted fridges are piling up at recycling centres across England and Wales
Capacity has been overwhelmed by heatwaves that have pushed white goods to breaking point‘In Oxfordshire, recycling centres are filling almost three articulated lorries with discarded fridges every week,” says Simon Perry of W&S Waste Management, which runs a recycling centre in Ardley.Together, those fridges would cover an area just under half the size of a football pitch. But the space to store them – in Oxfordshire and beyond – has become a growing problem after the Local Government Association (LGA) warned that a mountain of broken fridges was rising in waste centres across England and Wales, as this year’s heatwaves push more white goods to breaking point, and a trend for second/backup refrigeration products keeps growing. Continue reading...
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It’s a superfood but natto as we know it. Japan’s slimy fermented beans are coming your way
Comprised of smelly soya beans held together by strands of mucus, the ancient dish is appearing in health food shops across the worldIt is smelly, slimy and contains bacteria – and a sizeable number of Japanese wouldn’t touch it with a pair of barge pole-length chopsticks. But after centuries as a breakfast food for Japanese diners with nerves of steel, natto is emerging as a global superfood to rival kimchi, kombucha and kefir.Its exact origins are unknown. Some believe it was introduced to Japan from China by Buddhist monks during the Yayoi period (300BC-AD300), before becoming a staple among rural communities during the Edo period (1603-1868). Continue reading...
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‘We’re not going to back down’: tiny Dorset B&B stands up to Airbnb’s legal bid to ‘monopolise’ letters ‘bnb’
Three little letters - bnb-side’s name is a play on the local b-side arts festival, but Silicon Valley colossus sees threat to global brandIn one corner is bnb-side, a six-room bed and breakfast on the Isle of Portland – a tiny wedge of limestone tied by a narrow ribbon of shingle to the Dorset coast – that was created to help secure the future of the rock’s much-loved arts festival, b-side.On the other is Airbnb, the San Francisco-based booking colossus. The battle between them is over the three little letters they share. Continue reading...
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UK credit scores: should you worry about a big shake-up?
Your rating is vital when taking on debt, but you could be in for a surprise as a big player changes its rulesYour credit score is the magic number that helps lenders decide whether or not to approve a mortgage, loan or credit card application.Typically, the higher the number, the better your borrowing prospects. But a shake-up of the scoring system at TransUnion, one of the UK’s three main credit reference agencies, could mean a shock next time you log in. Continue reading...
theguardian.com
AI CEOs say they need to slow the pace of development. But will they?
After apocalyptic warnings about the threats posed by AI, leaders like Sam Altman and Elon Musk backed Anthropic CEO Dario Amodei’s calls to ‘slow the pace’Facing a public uproar over Anthropic researchers’ repeated warnings that artificial intelligence could kill all of humanity by 2030, the AI company’s CEO, Dario Amodei, issued a proposal at the weekend to slow down the technology’s advancement to ensure public safety.In a rare display of unity, the heads of the largest US artificial intelligence companies all agreed immediately. Continue reading...
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Mapped: the £150bn megaproject that aims to protect Britain from energy shocks
Thousands of miles of new power lines are needed to deliver climate targets and energy security, but bills will rise in the short term and opponents are mobilising Britain is embarking on one of the largest overhauls of its electricity grid in generations – a megaproject in which five times more infrastructure will be built by 2030 than was constructed during the previous three decades.Tens of billions of pounds are being spent on new pylons, subsea cables and converter stations to connect a growing fleet of wind and solar farms and carry clean power to where it is needed. Continue reading...
bbc.co.uk
Can Europe recharge its battery industry?
Europe has some promising battery tech, but can it make up ground lost to Chinese battery giants?
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I asked my husband to pay into my pension when we had a child - here's why
Molly and Taylor Haylett explain the changes to how they managed their finances when they started a family.
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Why some experts increasingly fear AI will take over
AI agents went on an uncontrolled hacking spree, leaving some in the industry worried
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Should promotion depend on how workers use AI?
More companies are tying career progression to AI use: is that fair?
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'Tirana teeth': Albania hopes to be the new Turkey for dental work
The Balkan nation is aiming to become a new centre for medical tourism.
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Aviation faces hotter, stormier skies – and passengers might have to accept more disruption
Are people going to have to increasingly accept more delays and diversions as the effects of climate change intensify?
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Prosecco, cakes and beauty products - how to get birthday freebies and why there's a catch
Cake, coffee, make-up and burgers are just some of the free things you can get on your birthday.
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From 'dog fruit' to darling: India's avocado boom
Demand for avocados is booming in India and local growers hope to grab more of the market.
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Why wait? Business grads buying firms to install themselves as CEO
Impatient to be the boss of an established company they are borrowing money to fund their purchases.
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'My parents won't lend me £10k but helped my brother': When families play financial favourites
So-called financial favouritism can cause jealousy and resentment long into adulthood. Here is how experts say you can avoid it
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Why the UK is dithering over what to do about e-scooters
Why is it taking so long for the government to regulate them, and what are the consequences of delay?
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Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
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The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
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